Sagent Pharmaceuticals Inc. (SGNT) Shares Down 0.1%
Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) shares traded down 0.1% during mid-day trading on Friday . The company traded as low as $15.88 and last traded at $16.07, with a volume of 127,183 shares. The stock had previously closed at $16.05.
A number of research analysts recently issued reports on the company. Zacks Investment Research raised Sagent Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Jefferies Group reaffirmed a “hold” rating and set a $15.00 target price (up from $13.00) on shares of Sagent Pharmaceuticals in a report on Friday, June 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sagent Pharmaceuticals in a report on Wednesday, June 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price target (down previously from $28.00) on shares of Sagent Pharmaceuticals in a research report on Wednesday, May 4th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $22.00 price target (down previously from $23.00) on shares of Sagent Pharmaceuticals in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.57.
The company’s market capitalization is $508.99 million. The company’s 50-day moving average is $13.98 and its 200 day moving average is $13.63.
Sagent Pharmaceuticals (NASDAQ:SGNT) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.16. The business earned $67.30 million during the quarter, compared to analysts’ expectations of $74.30 million. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Equities analysts predict that Sagent Pharmaceuticals Inc. will post $0.25 EPS for the current fiscal year.
In other news, major shareholder Ventures Fund V. L.P. Vivo sold 2,005 shares of Sagent Pharmaceuticals stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $13.55, for a total value of $27,167.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and institutional investors have bought and sold shares of SGNT. Dimensional Fund Advisors LP raised its position in Sagent Pharmaceuticals by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 695,669 shares of the company’s stock valued at $11,068,000 after buying an additional 9,453 shares during the period. New York State Common Retirement Fund raised its stake in shares of Sagent Pharmaceuticals by 27.6% in the fourth quarter. New York State Common Retirement Fund now owns 232,271 shares of the company’s stock worth $3,695,000 after buying an additional 50,258 shares during the last quarter. Morgan Stanley raised its stake in shares of Sagent Pharmaceuticals by 124.9% in the fourth quarter. Morgan Stanley now owns 155,915 shares of the company’s stock worth $2,480,000 after buying an additional 86,578 shares during the last quarter. Tamarack Advisers LP purchased a new stake in shares of Sagent Pharmaceuticals during the fourth quarter worth approximately $7,160,000. Finally, Eagle Asset Management Inc. raised its stake in shares of Sagent Pharmaceuticals by 174.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,006,183 shares of the company’s stock worth $16,008,000 after buying an additional 639,254 shares during the last quarter.
Sagent Pharmaceuticals, Inc (Sagent), formerly Sagent Holding Co, is an injectable pharmaceutical company that develops and sources products that the Company sells primarily in the United States. Sagent focuses primarily on generic injectable pharmaceuticals. Sagent offers its customers a range of products across anti-infective, oncolytic and critical care indications in a variety of presentations, including single- and multi-dose vials, pre-filled, ready-to-use syringes, medical devices and premix bags.
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